Saturday 17 October 2026 Export SAP’s income statement to Excel — free account

SAP SE

SAP SE’s revenue for fiscal 2025 (year ended December 2025) was $41.6 billion, up 12.6% from fiscal 2024. In the quarter to June 2026, revenue grew 12.1%, EPS grew 33.3%, free cash flow grew 15.7% and total debt rose 14.7%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for three.

224.29 0.71 −0.32%

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Market cap: $259.7B
P/E: 28.1×
Fwd P/E: 22.7×
Dividend yield: 1.31%
F-score: 8/9
Altman Z: 7.90
Beneish M: −2.54
Dividend safety: 82/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.26%

Capital & Financial Ratios $m

Market Cap 259,690.00

Revenue 44,561.20

Net Income 9,095.37

Free Cash Flow 10,164.20

Net Debt (1,299.90)

Current Ratio 1.15

Debt/Equity 0.23

P/E ratio 28.07

Fwd P/E 22.70

P/S ratio 5.80

P/B ratio 4.92

Past 5Y EPS Growth 7.27%

This Y EPS Growth 9.22%

Next Y EPS Growth 18.72%

Next Y revenue growth 8.66%

Next 5Y EPS Growth 15.05%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 43.94%

10-year low 10-year high

P/S against its own 10 years 78.77%

10-year low 10-year high

P/B against its own 10 years 81.61%

10-year low 10-year high

EV/Sales against its own 10 years 77.66%

10-year low 10-year high

EV/FCF against its own 10 years 23.26%

10-year low 10-year high

Dividends

Payout Ratio 0.37

Annual Dividend Rate 2.93

Annual Dividend Yield 1.31%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.93	2.93
2025	2.63	2.63
2024	2.39	2.39
2023	2.23	2.23
2022	2.08	2.08
2021	2.26	2.26
2020	1.73	1.73
2019	1.67	1.67
2018	1.65	1.65
2017	1.37	1.37
2016	1.31	1.31

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	12,412	12,161	11,056	13,516
Receivables	6,842	7,330	7,552	8,227
Inventory	—	—	—	—
Other	3,010	3,667	4,311	4,589
	22,264	23,158	22,918	26,334

	2023	2024	2025	Q'26
Payables	1,930	2,153	2,750	3,194
ST’ Debt	1,878	4,628	2,319	2,286
Other	11,752	13,231	13,539	15,884
	15,847	20,645	19,704	22,945

Compound Annual Growth %

	10y	5y	3y
Sales	6.07%	5.92%	8.58%
Cash Flow	9.87%	4.74%	20.30%
Earnings	9.05%	6.63%	49.88%
Book Value	7.02%	8.33%	4.15%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	11,183	11,485	—	—	—
’25	9,495	10,247	10,609	11,284	41,636
’24	8,730	8,925	9,314	10,013	36,982
’23	7,987	8,237	8,429	9,123	33,775
’22	7,942	8,000	7,897	8,687	32,526
’21	7,653	8,035	8,072	9,180	32,940
’20	7,194	7,425	7,639	8,970	31,228

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	4,112	3,639	—	—	—
’25	3,982	3,234	1,970	1,173	10,359
’24	2,993	1,634	1,719	(698)	5,649
’23	2,547	986	1,217	2,103	6,853
’22	2,785	141	697	2,326	5,950
’21	3,719	824	1,298	1,521	7,362
’20	3,292	861	1,802	2,263	8,218

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	3,871	3,532	—	—	—
’25	3,845	3,053	1,763	998	9,660
’24	2,820	1,474	1,561	(936)	4,918
’23	2,297	832	1,051	1,930	6,111
’22	2,568	(72)	456	2,141	5,092
’21	3,560	617	1,102	1,244	6,524
’20	2,951	698	1,617	2,120	7,386

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.94	2.19	—	—	—
’25	1.59	1.63	2.00	1.83	7.06
’24	(0.76)	0.81	1.36	1.46	2.90
’23	0.44	3.10	1.18	1.09	5.60
’22	0.71	0.30	0.57	0.48	2.05
’21	1.06	1.39	1.40	1.42	5.28
’20	0.75	0.80	1.54	1.93	4.97

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	71.39	85.49	94.81	95.45	90.90	120.08	78.22	103.28	148.38	233.51	Analyst estimates 2026–2028 Powerpack
	High	92.76	116.90	127.16	140.62	169.30	151.48	141.69	160.35	256.13	313.28
People
People	Employees	84,183	88,543	96,498	100,330	102,430	107,415	111,961	107,602	109,973	110,650
	Revenue/emp, $m	0.28	0.32	0.30	0.31	0.30	0.31	0.29	0.31	0.34	0.38
Income, $m
Income, $m	Revenue	23,280	28,205	29,180	30,859	31,228	32,940	32,526	33,775	36,982	41,636
	Gross margin, %	70.16	69.95	69.80	69.68	71.16	71.46	71.06	72.20	72.95	72.86
	EBT	5,131	6,043	6,614	5,148	8,247	8,101	3,256	5,781	5,155	11,619
	EBT margin, %	22.04	21.43	22.66	16.68	26.41	24.59	10.01	17.11	13.94	27.91
	Net income	3,834	4,876	4,828	3,774	6,035	6,360	1,800	6,455	3,409	8,289
	Depreciation	1,338	1,529	1,609	2,097	2,092	2,100	1,998	1,486	1,385	1,483
Per share, $
Per share, $	Revenue	19.43	23.56	24.44	25.85	26.42	27.92	27.80	28.94	31.72	35.71
	Earnings	3.35	3.80	4.04	3.14	4.97	5.28	2.07	5.66	2.90	7.10
	Cash flow	4.08	5.07	4.26	3.28	6.95	6.24	5.09	5.87	4.84	8.88
	Capex	(0.83)	(1.18)	(1.39)	(0.70)	(0.70)	(0.71)	(0.73)	(0.64)	(0.63)	(0.60)
	Free cash flow	3.25	3.88	2.87	2.58	6.25	5.53	4.35	5.24	4.22	8.28
	Book value	23.25	25.65	28.56	28.91	28.92	41.63	38.59	40.26	42.51	43.74
	Shares, m	1,198	1,197	1,194	1,194	1,182	1,180	1,170	1,167	1,166	1,166
Valuation, ×
Valuation, ×	P/E	25.92	29.12	24.83	43.08	25.97	26.59	50.23	25.63	85.49	34.21
	P/S	4.44	4.77	4.07	5.18	4.94	5.02	3.74	5.19	7.76	6.80
	P/B	3.71	4.38	3.49	4.63	4.51	3.37	2.69	3.73	5.79	5.55
	EV/Sales	4.60	4.84	4.18	5.57	5.26	5.16	3.89	5.13	7.77	6.76
	EV/FCF	27.48	29.36	35.58	55.79	22.26	26.05	24.82	28.37	58.42	29.12
Cash, $m
Cash, $m	Operating cash flow	4,884	6,065	5,082	3,916	8,218	7,362	5,950	6,853	5,649	10,359
	Capex	(989)	(1,417)	(1,655)	(836)	(832)	(839)	(858)	(742)	(730)	(699)
	Free cash flow	3,895	4,648	3,427	3,080	7,386	6,524	5,092	6,111	4,918	9,660
Balance, $m
Balance, $m	Working capital	1,993	2,068	7,250	841	2,544	4,624	1,126	6,417	2,513	3,213
	Total debt	8,752	7,928	13,792	18,140	18,223	18,421	15,124	10,472	12,386	9,132
	Net debt	3,660	1,916	3,074	11,855	10,289	4,631	4,735	(1,939)	225	(1,925)
	Shareholders’ equity	27,854	30,704	34,104	34,521	34,187	49,126	45,145	46,978	49,569	50,996
Returns, %
Returns, %	ROA	8.30	9.88	8.62	5.80	8.76	8.24	3.00	8.86	4.39	10.14
	ROIC	10.74	11.24	11.32	6.75	10.63	6.40	6.17	8.69	6.34	13.86
	ROE	14.32	16.50	14.88	10.84	17.11	14.93	5.11	14.42	7.00	16.11

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
SAP SAP SE	$259.7B	28.1×	22.7×	+12.08% (above 0%: growing)	+33.33% (above 0%: growing)	+15.69% (above 0%: growing)	73.17%	26.77%
SHOP Shopify Inc.	$229.2B	114×	123×	+33.69% (above 0%: growing)	+65.71% (above 0%: growing)	+54.98% (above 0%: growing)	47.67%	13.62%	Compare
CRM Salesforce, Inc.	$203.1B	21.9×	22.8×	+10.83% (above 0%: growing)	+118.27% (above 0%: growing)	+81.49% (above 0%: growing)	76.65%	20.55%	Compare
NOW ServiceNow, Inc.	$153.6B	88.0×	56.5×	+24.01% (above 0%: growing)	−22.04% (below 0%: shrinking)	−10.08% (below 0%: shrinking)	70.68%	4.06%	Compare
UBER Uber Technologies, Inc.	$145.6B	15.2×	24.0×	+12.17% (above 0%: growing)	+81.54% (above 0%: growing)	+12.81% (above 0%: growing)	44.93%	13.32%	Compare
SNOW Snowflake Inc.	$118.2B	— (loss-making)	— (loss-making)	+35.09% (above 0%: growing)	n/m	+47.23% (above 0%: growing)	67.02%	(17.00%)	Compare
ADP Automatic Data Processing, Inc.	$113.2B	26.3×	19.0×	+6.77% (above 0%: growing)	+9.37% (above 0%: growing)	−5.49% (below 0%: shrinking)	45.88%	23.00%	Compare
ADBE Adobe Inc.	$98.0B	13.7×	13.8×	+12.89% (above 0%: growing)	+10.77% (above 0%: growing)	+14.68% (above 0%: growing)	88.71%	34.82%	Compare
DDOG Datadog, Inc.	$95.6B	485×	420×	+35.64% (above 0%: growing)	+1,610.53% (above 0%: growing)	+68.55% (above 0%: growing)	78.59%	0.49%	Compare
Median of peers	$131.9B	26.3×	24.0×	+18.45%	+65.71%	+30.96%	68.85%	13.47%

All 237 Software Application stocks →

SAP SE (SAP) key facts

Strength: SAP SE’s revenue for fiscal 2025 (year ended December 2025) was $41.6 billion, up 12.6% from fiscal 2024.
SAP SE (SAP) is a Software Application company in the Technology sector, traded in the US as an ADR.
As of October 16, 2026, SAP traded at $224.29, a market capitalization of $259.7 billion.
SAP SE pays an annual dividend of $2.93 per share, a yield of 1.31%, with a payout ratio of 36.8%.
Return on equity was 16.1% and debt-to-equity 0.23.
Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 7.90 (safe zone) for fiscal 2025.